Haryana RERA Orders Ocus Skyscrapers Realty to Pay 10.8% Interest for Delayed Possession.

Seven-Month Delay in Flat Handover Leads to Interest Payout to Homebuyer

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) has directed Ocus Skyscrapers Realty to pay 10.8% interest to homebuyer Archana Dubey for delayed possession of her commercial unit in the Ocus 24K project, Sector 68, Gurugram. Under the buyer’s agreement signed on December 16, 2013, possession was scheduled within 60 months, with the deadline falling on December 16, 2018. However, the project received its occupation certificate on July 17, 2019, and possession was formally offered on July 18, resulting in a delay of around seven months. HRERA ordered the developer to clear the interest arrears within 90 days and directed it to complete the conveyance deed promptly. While the authority upheld the buyer’s claim regarding delayed possession, it dismissed several other serious allegations, including accusations of fraud in the allotment process and irregularities related to statutory clearances. The order reinforces homebuyers’ rights to compensation for possession delays under RERA.